AdrianRaymondFX
Long

A likely bounce for USD/CAD sometime this week

FX:USDCAD   U.S. Dollar/Canadian Dollar
997 13 18
USD/CAD             has fallen quite sharply since the beginning of the month, and prices are pulling back towards some technical levels that may provide support this week. Watch for signs of selling fatigue to set in around 1.2800/70. Note the daily RSI fairly close to 30 in a prevailing uptrend (this is just complementary info). If prices do bounce like I'm expecting, 1.3050 would be a good initial target. I'd really like to see a candlestick similar to that of July 29 where sellers are present during the European session but don't manage to hold buyers at bay during the North American session. The extent to which I hold a bullish biais on USD/CAD             this week will be largely influenced by such price action.
Congratulations! Your chart will be featured as the post of the day. This is a great example of using a confluence of support to plan a technical trade.
Reply
AdrianRaymondFX PRO walker.england
a year ago
Thanks Walker!
Reply
cap21 AdrianRaymondFX
a year ago
great chart
Reply
Yahia.Awes
a year ago
Perfect, we are watching the same levels!
USDCAD buy end of the week or begin next week.
+1 Reply
Just a note on fundamental data associated with crude which has been the primary driver of CAD at certain time periods.
http://www.zerohedge.com/news/2015-10-12/oil-stumbles-below-49-goldman-warns-lower-even-longer
+1 Reply
Clarification behind the last move up in oil in relationship to CAD.Note the strategy of big oil.
http://www.zerohedge.com/news/2015-10-12/producer-hedging-scramble-leads-oil-tumble
The second biggest concern going forward is the Canadian election coming up shortly.The NeoCon Prime Minister Harper said to the CBC that he'll step down if there's any type of minority government.Some polls suggest a possibility of the New Democratic Party(socialists) to hold the balance.Most Canadians have said that it's time for change.
Reply
AdrianRaymondFX PRO RobertHerdman
a year ago
Thank you for sharing Robert.
Reply
pardis
a year ago
i like trend line so much an i enjoy of your chart...thanks frends
+1 Reply
pardis
a year ago
snapshot
Reply
There is a possible bearish cypher forming on UsdCad,so I am gonna look to get short,if it's gonna get filled and PA will signal me for a sell,before going up.
Gl!
snapshot
Reply
Don_Corleone PRO Don_Corleone
a year ago
Just a thought on a smaller time frame
Reply
pardis Don_Corleone
a year ago
excellent
Reply
The bounce came in a little later than expected, but the trend line in my chart matches with last week's lows. So far so good.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out